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PS5 aka PlayStation 5 is currently under development at Sony but the company has already confirmed we won’t be seeing it anytime soon. In fact, we are looking at another three years before PS5 hits the shelves.

Still, that doesn’t mean Sony can’t discuss what its plans are and what it intends to do. According to the President of Sony Worldwide Studios, Shuhei Yoshida, they learned from past mistakes while developing PS5. During the transition period, the company will utilize its experiences with PS4.

“We all make mistakes,” said Yoshida; but the company is committed to learning from the things that worked in their favor, at the same time, keeping in mind the things that didn’t.

For us, PlayStation 4 is doing really well but we will not forget how we got here.

Meanwhile, there are many speculations about the next-gen gaming machine from Sony and one of them being its price. Price is always a major factor and according to what we have heard, the console may be less than $500. While Sony is keeping quiet on PS5 hardware specs, rumor has it that it may feature a discrete GPU instead of an APU.

What are your expectations for PlayStation 5? Let us know in the comments below.